Answered

Discover new perspectives and gain insights with IDNLearn.com's diverse answers. Our platform offers reliable and detailed answers, ensuring you have the information you need.

Cheyenne Corp. had the following transactions during 2017:

1. Issued $220000 of par value common stock for cash.
2. Recorded and paid wages expense of $105600.
3. Acquired land by issuing common stock of par value $88000.
4. Declared and paid a cash dividend of $17600.
5. Sold a long-term investment (cost $5280) for cash of $5280.
6. Recorded cash sales of $704000.
7. Bought inventory for cash of $281600.
8. Acquired an investment in Zynga stock for cash of $36960.
9. Converted bonds payable to common stock in the amount of $880000.

Required:
What is the net cash provided by operating activities?

Sagot :

Tundexiidn

Answer:

$316,800

Explanation:

Cashflow from Operating activities = Cash sales - Paid wages - Bought Inventory for cash

Cashflow from Operating activities = $704,000 - $105,600 - $281,600

Cashflow from Operating activities = $316,800

So, the net cash provided by operating activities is $316,800

Your participation means a lot to us. Keep sharing information and solutions. This community grows thanks to the amazing contributions from members like you. Thank you for trusting IDNLearn.com. We’re dedicated to providing accurate answers, so visit us again for more solutions.